Facebook finally monetizes Marketplace with feed ads for listings

20 months after launching its Craigslist competitor Marketplace and relentlessly promoting it with placement in the main navigation bar, Facebook will start earning money off its classifieds section. Facebook today begins testing Marketplace ads in the U.S. that let sellers pay to “Boost” their listing to more people through the News Feed. While they’re easy for novices, requiring buyers to only to set a budget and how long the ads will run, there are no additional targeting options beyond being shown to age 18+ users in nearby zip codes.

The ads could be a big help if you need to rapidly liquidate your furniture before moving out, or if you’re trying to sell something big a high price, like Marketplace’s new car, housing, jobs, and home services offerings. Yet they seem inefficient, since the lack of targeting means your listing for men’s jewelry might show up to women, or your rock climbing gears ads could show up to senior citizens.

But Facebook does tell me that ads will but auto-optimized for clicks, so when people start to click your ads, Facebook will show them to people of similar demographics. It will also immediately pause your ad campaign if you mark your item as sold.

“Many Marketplace sellers have told us that they want the ability to show a listing to more people in their local area, especially if they’re trying to sell it quickly” Facebook Product Manager Harshit Agarwal tells TechCrunch. “We’re starting to test a simple way for sellers to boost their listings and help them find a buyer.” For comparison, Craiglist doesn’t run any ads, but charges sellers $5 to $10 for certain product listings cars and brokered apartments.

One interesting quirk is that Facebook says it won’t allow boosting of listings of political products such as a Bernie Sanders For President t-shirt, as its political advertiser verification and labeling system only works with Pages and not individuals right now.

The ads will only appear to a small percentage of U.S. users and Facebook says it’s too early to know if it will roll them out futher. But as the company seems bent on swallowing up every other essential part of the internet, anything that makes Marketplace more useful to sellers and lucrative for the tech giant seems like a good bet for an official launch.

from TechCrunch https://ift.tt/2JedIi5

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